US Treasury certified Colorado’s Opportunity Zone submittal, which was coordinated by the Office of Economic Development and International Trade. The newly enacted federal Opportunity Zone program provides a tax incentive for investors to reinvest capital gains into qualified communities and four census tracts in Englewood were approved under this designation. The approved Opportunity Zone includes areas from General Iron Works to south of Oxford Station and Englewood Civic Center to the Medical District.
Englewood’s Approved Census Tracts
The Opportunity Zone designation will attract capital investments and support the City’s revitalization and redevelopment initiatives. Additional information about Opportunity Zones is available on the State of Colorado website.
The U.S. Treasury is finalizing their regulations that will implement this new law and will provide guidance for the Opportunity Funds. Investment groups are organizing and contemplating opportunities. Additional information about Opportunity Zones and Opportunity Funds is available on the IRS website.